Two years passed by fast. It was a very expensive two years as well. Considering MBA expenses and opportunity cost, less summer internship, the total cost comes out to over $350,000!
A lot of people ask me, is it worth it?
In terms of pure NPV, it may not be. More than just cost, but also considering losing two years of industry expertise, it’s a costly detour from one’s career. Whenever people ask me, about themselves getting an MBA, I usually say one thing: if you’re trying to get into an industry/career that you do NOT have any exposure to, getting an MBA would be a great way to spend two years to wiggle into it. Otherwise, using your contacts and trying to get in the door that way is usually just as, if not more effective.
But, to a lot of people, an MBA just feels like the “right way to go.” Everyone has their own reasons – be it a two year vacation, develop my network, spend more time with family (especially for the Asian internationals), progress in my career, or crack into an industry that I have no contacts to.
My reasons lie around the career/people/inspiration route…and with that framework in mind, to answer the question “Is it worth it?”
And with everything else in life, the most important thing I got from my two years is the friendships, and amazing memories/experiences that I otherwise would not have gotten. And unlike money, career, iPads, and the like…(hopefully) the relationships will last forever. Considering that…I would say that’s a pretty good return on the MBA.